Evolent Health (NYSE:EVH) Shares Up 4.7% – Still a Buy?

Evolent Health, Inc (NYSE:EVH) shares rose 4.7% during trading on Friday . The company traded as high as $5.94 and last traded at $5.8950. 171,140 shares changed hands during trading, a decline of 94% from the average session volume of 2,900,013 shares. The stock had previously closed at $5.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EVH shares. Needham & Company LLC raised their price target on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Canaccord Genuity Group raised their price target on Evolent Health from $4.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Citigroup boosted their price objective on Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.08.

Evolent Health Trading Up 2.8%

The firm has a market capitalization of $650.70 million, a P/E ratio of -1.22 and a beta of 0.76. The firm has a 50 day simple moving average of $4.50 and a two-hundred day simple moving average of $3.64. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $496.25 million during the quarter, compared to analyst estimates of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. Equities research analysts forecast that Evolent Health, Inc will post -0.16 earnings per share for the current year.

Institutional Trading of Evolent Health

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC bought a new stake in Evolent Health in the fourth quarter worth $3,927,000. Eventide Asset Management LLC grew its stake in shares of Evolent Health by 54.0% in the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after acquiring an additional 2,205,659 shares during the period. Tudor Investment Corp ET AL raised its stake in Evolent Health by 174.4% during the 3rd quarter. Tudor Investment Corp ET AL now owns 689,262 shares of the technology company’s stock valued at $5,831,000 after buying an additional 438,095 shares during the last quarter. Castle Hook Partners LP bought a new position in Evolent Health in the fourth quarter valued at about $3,751,000. Finally, Rock Point Advisors LLC lifted its stake in shares of Evolent Health by 21.6% in the 4th quarter. Rock Point Advisors LLC now owns 1,190,156 shares of the technology company’s stock worth $4,761,000 after purchasing an additional 211,707 shares during the period.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.